Property Type

Vista Realty Partners Sells Two Multifamily Communities in Metro Atlanta for $70M

by Alex Tostado August 30, 2019

ATLANTA — Vista Realty Partners has sold the 280-unit Longwood Vista Apartments and the 324-unit Lakeside Vista Apartments for a total of $70 million. Longwood Vista offers one-, two- and three-bedroom floor plans. The property is located at 2300 Global Forum Blvd. in northeast Atlanta. Communal amenities include a car care center, business center, clubhouse, conference room, swimming pool and a fitness center. Lakeside Vista is located at 2100 Ellison Lakes Drive in Kennesaw, 26 miles northwest of downtown Atlanta. The property offers one- through three-bedroom floor plans and communal amenities including a clubhouse, business center, storage space, fitness center, swimming pool, playground and a tennis court. Atlanta-based Vista Realty Partners developed both communities in 2006 using Low-Income Housing Tax Credits. Fairfield Residential, which specializes in affordable housing, was the buyer.

August 30, 2019

Development Florida Industrial Southeast

Codina Partners, USAA Break Ground on 147,768 SF Industrial Building in Metro Miami

by Alex Tostado August 30, 2019

HIALEAH, FLA. — Codina Partners and USAA Real Estate have broken ground on Building F, a 147,768-square-foot industrial building within Beacon Industrial Park in Hialeah. Codina and USAA are the owners and developers of Beacon Logistics Park, which will comprise more than 1.3 million square feet of industrial space when complete. The campus is located at NW 145th Place and NW 107th Avenue, 23 miles northwest of downtown Miami. Upon completion, Building F will be available to tenants seeking 17,280 square feet and more. RLC Architects designed the industrial park, and Rycon Construction Inc. is the general contractor for Building F.

August 30, 2019

Acquisitions Alabama Multifamily Southeast Student Housing

Capstone Sells Student Housing Community Near University of Alabama

by Alex Tostado August 30, 2019

TUSCALOOSA, ALA. — Capstone Real Estate Investments (CREI) has sold Landmark Apartments, a student housing community located near the University of Alabama in Tuscaloosa. CREI purchased the asset in January 2018 before beginning extensive renovations. Terms of the transaction and the identity of the buyer were not disclosed. Landmark Apartments offers one-, two- and three-bedroom units. Shared amenities include a 24-hour fitness center, business center and printing station, a game room, yoga studio, swimming pool, an outdoor fireplace and grilling station, a tanning bed, lounge, hot tub, sauna, steam room and a pet park.

August 30, 2019

Acquisitions Loans Maryland Multifamily Seniors Housing Southeast Virginia

Capital Funding Provides $36.9M Acquisition Financing for Two Mid-Atlantic Skilled Nursing Facilities

by Alex Tostado August 30, 2019

DUNN LORING, VA., AND SILVER SPRING, MD. — Capital Funding has provided $36.9 million in financing for private equity firm The Portopiccolo Group to acquire two skilled nursing facilities in Dunn Loring and Silver Spring. The properties include the Iliff Nursing and Rehabilitation Center, a 130-bed pediatric and geriatric facility in Dunn Loring, and the Fox Chase Rehabilitation and Nursing Center, a 74-bed geriatric facility in Silver Spring. Accordius Health, an operating platform of The Portopiccolo Group, manages both properties. Tim Eberhardt of Capital Funding originated the acquisition financing, which included a $30.6 million senior loan, $3.8 million mezzanine loan and a $2.5 million accounts receivable line of credit for working capital needs. The financing provided Portopiccolo with 90 percent of total transaction costs as well as a $2.7 million reserve for post-closing renovations.

August 30, 2019

Acquisitions Florida Retail Southeast

Avison Young Brokers $16M Sale of Publix-Anchored Shopping Center in Boca Raton

by Alex Tostado August 30, 2019

BOCA RATON, FLA. — Avison Young has brokered the $16 million sale of West Boca Plaza, a 70,524-square-foot, Publix-anchored shopping center in Boca Raton. The center is located at 22973-23071 U.S. Highway 441, seven miles west of downtown Boca Raton. Other tenants at West Boca Plaza include Little Caesar’s, Orient Garden, La Perredo del Gordo and 441 Animal Hospital. David Duckworth, John Crotty, Michael Fay and Brian de La Fé of Avison Young represented the seller, Sandalfoot Investments LLC, in the transaction. Investments Limited acquired the property.

August 30, 2019

Acquisitions Multifamily Texas

Greystone Arranges Sale of 232-Unit Multifamily Asset in Killeen

by Taylor Williams August 30, 2019

KILLEEN, TEXAS — Greystone has arranged the sale of The Willows Apartments, a 232-unit multifamily asset located in the Central Texas city of Killeen. Built in 1983, the property features one-, two- and three-bedroom units and amenities such as a pool and an outdoor picnic area. Nicholas Brown of Greystone represented the seller and procured the out-of-state buyer in the transaction. Both parties requested anonymity.

August 30, 2019

Acquisitions Multifamily Texas

Draper & Kramer Buys 211-Unit Apartment Community in McKinney, Texas

by Taylor Williams August 30, 2019

MCKINNEY, TEXAS — Draper & Kramer Inc. has purchased St. Paul’s Square, a 211-unit multifamily community in McKinney, a northeastern suburb of Dallas. The property offers one-, two- and three-bedroom units ranging in size from 735 to 2,073 square feet and featuring wood-plank flooring, granite countertops, stainless steel appliances and washer and dryer connections. Amenities will include a pool, fitness center, outdoor grilling areas, a coffee bar, business center and rentable storage units. The transaction marks Draper & Kramer’s third acquisition in Texas.Will Balthrope, Drew Kile, Tommy Lovell III, Joey Tumminello, Richard Robson and Grant Raymond of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller, Himalayan Ventures LLC in the transaction.

August 30, 2019

Acquisitions Hospitality Texas

Peachtree Hotel Group Acquires 111-Room Home2 Suites Hotel in El Paso

by Taylor Williams August 30, 2019

EL PASO, TEXAS — Atlanta-based hospitality investment and management firm Peachtree Hotel Group has acquired Home2 Suites by Hilton El Paso Airport, a 111-room hotel located at 6308 Montana Ave. in El Paso. The property, which is located less than two miles from El Paso International Airport, features amenities such as a fitness center, business center, outdoor pool and an airport shuttle service. The seller was not disclosed.

August 30, 2019

Leasing Activity Office Texas

ESRP Negotiates 114,500 SF Office Lease in Irving

by Taylor Williams August 30, 2019

IRVING, TEXAS — ESRP, a brokerage firm specializing in tenant representation, has negotiated a 114,500-square-foot office lease in Irving for biotechnology firm Caris Life Sciences. Greg Burns and Christopher Schafer of ESRP handled the lease negotiations on behalf of the tenant, which will relocate to a newly constructed facility that offers lab and office space. Myers & Crow Co. developed the property, which is owned by a fund managed by Kawa Capital Partners.

August 30, 2019

Industrial Leasing Activity Texas

American Tile & Stone Signs 58,296 SF Industrial Lease Extension in Metro Dallas

by Taylor Williams August 30, 2019

CARROLLTON, TEXAS — American Tile & Stone has signed a 58,296-square-foot industrial lease extension at Luna Distribution Center, a 1.3 million-square-foot development in Carrollton, a northern suburb of Dallas. George Billingsley of Billingsley Co. represented the landlord on an internal basis. Ryan Boozer with Stream Realty Partners represented the tenant.

August 30, 2019

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